Last Revised: 10/24/19. Posting #: 10249150
Key Words: cafe, bistro, catering, bergen, absentee
Financial Info: Offered at a reduced price of $199K. Revenue (2018) $609,117, SDE (2018) $127,071, Lease: $3,697/month. SBA pre-qualified for a loan amount of $150K and a buyer down payment of $55K for 10 years at 8%. Estimated monthly payment of $1,820. Lease expires 8/31/2024, 2-5 year options until 8/31/2034.
Profile: Restaurant – Absentee Owner - Offered at $199,000 - Priced for quick sale.
This is an excellent opportunity to own a profitable bistro in Bergen County.
This intimate restaurant is located on a busy street in the downtown area of an upscale town in Bergen County, New Jersey. This town has long been known for attracting restaurant goers for its creative and delectable food offerings. Established in 2013, this bistro has been serving residents of Northern New Jersey with a wonderful variety of small plates for dinner six days a week. The large menu that has something for every taste includes a wide variety of starters, salads, seafood, meat and mouthwatering desserts all presented beautifully. Catering for private parties and events is available at the home or office upon request. The restaurant offers a selection of varietals of California wine from a popular winery in full and half bottles.
This 1,330 square foot space seats sixty plus five at the bar inside and has outdoor seating that can accommodate up to eighteen comfortably. All equipment is included in the sale price. The restaurant is fully staffed. The owner is basically absentee, spending time in the restaurant only to manage the required paperwork such as accounts payable. The experienced staff includes a full-time floor manager, five kitchen workers and a wait staff. Unlike many restaurant opportunities, the buyer will not need to be a chef. Recipes are in place and the kitchen staff is experienced in preparing them to perfection. However, if the buyer chooses to take a more active role in the restaurant, they will realize cost savings. The restaurant currently serves dinner six days a week and lunch two days a week which provides an opportunity to expand the lunch offering.
The restaurant is approximately 1,330 square feet on the main floor and seats sixty plus five at the bar. A full basement used for storage is included in the lease at no additional cost. The outdoor area can seat an additional eighteen diners. All equipment is owned by the seller, except for the dishwasher, which is leased. The lease cost for the dishwasher is $99 per month. All owned equipment is included in the listing price.
This Bistro is being marketed as an Asset sale for the recently reduced offering price of $199,000. The owner is very motivated and is accepting cash offers but may be open to financing a portion of the sale for the right buyer. He will provide two weeks training included in the sale price to ensure a smooth transition.
Revenue (2018): $609,117
SDE (2018): $127,071
Employees: 1 full-time Manager, 3 full-time, 2 part-time Kitchen staff, 6 Wait staff
Lease expires 8/31/2024, includes 2-5 year options running until 8/31/2034
Service: Tuesday – Friday: Dinner, Saturday – Saturday: Lunch & Dinner
Professional Resources & Contacts To Help You Close Your Deal!
Profile: I founded BizBen and BizBenNetwork to make the process of buying and selling small to mid-sized businesses more efficiently. I currently head up the Facilitator team at BizBenNetwork where we assist BBN Members with connecting with others to facilitate a deal. Thanks for using BizBenNetwork!
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Profile: Tony Calvacca is a Managing Partner and Principal of the NYBB Group and a Certified Business Intermediary (CBI) with the IBBA. Tony provides M&A and Business Brokerage services to business owners of privately held companies with annual revenues in the $5 million to $50 million range.
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